Unlocking a $1 Trillion Opportunity: Closing the Women’s Health Gap for a Healthier and Wealthier World
Discoveries from a groundbreaking report released by the World Economic Forum have shed light on a potential game-changer for global health and economic prosperity. The report, titled “Closing the Women’s Health Gap: A $1 Trillion Opportunity to Improve Lives and Economies,” co-developed with insights from the McKinsey Health Institute, delves into the unique health challenges faced by women and unveils the remarkable benefits of closing the gender health gap.
Health and Economic Impact: The report’s findings indicate that addressing women’s health disparities is not only an investment in improving the lives of billions but also a key driver for an unprecedented boost to the global economy.
By overcoming barriers that limit women’s workforce engagement and financial independence, we could reduce the time women spend in poor health by nearly two-thirds. This, in turn, would significantly enhance the well-being of over 3.9 billion individuals and contribute a staggering $1 trillion annually to the global economy by 2040.
Expert Insights: Shyam Bishen, Head of the Centre for Health and Healthcare at the World Economic Forum, underscores the urgency of prioritizing women’s health globally. He emphasizes that beyond enhancing the quality of women’s lives, providing access to innovative healthcare solutions is a strategic investment for the prosperity of societies and economies alike.
Unlocking a $1 Trillion Opportunity: Closing the Women’s Health Gap for a Healthier and Wealthier World
Correlation between Health and Prosperity: A critical revelation from the report is the correlation between improved health and economic prosperity. On average, women spend 25% more of their lives in poor health than men.
Closing this global health gap has the potential to trigger a 1.7% increase in per capita GDP. Remarkably, every $1 invested in bridging this gap could unlock a remarkable $3 in economic growth. The report urges for greater access to gender-specific care and advocates for innovative business policies and financing models through collaborative efforts across industries.
Responding to the report’s findings, the World Economic Forum has launched the Global Alliance for Women’s Health. This multi-sector platform is evidence-centered, showcasing that investing in women’s health isn’t just about individual well-being but holds the key to revolutionary economic growth for societies worldwide. Over 42 organizations, including government leaders, private sector representatives, and philanthropic entities, have expressed interest in joining the alliance.
Leading the way in commitments towards women’s health, Tower Capital Group plans to invest over $25 million in 2024 to support women’s health. Rotary International, through the Rotary Healthy Communities Challenge, is allocating $30 million for disease prevention and maternal and child health in specific countries. An open letter, signed by 40+ partners and led by Kearney, calls for a redesign of healthcare with a focus on women’s unique needs.
Anita Zaidi, President of the Gender Equality Division at the Bill & Melinda Gates Foundation, reinforces the significance of investing in women’s health, describing it as a direct investment in families, communities, societies, and economies. Nisia Trindade Lima, Minister of Health of Brazil, highlights the critical need for quality and accessible healthcare, making a compelling case for mobilizing across sectors to invest in women’s health.
The Future of Women’s Health: The Global Alliance for Women’s Health is set to be guided by an influential, multi-sector governing board featuring world leaders representing diverse stakeholders. Co-chaired by Nisia Trindade Lima and Anita Zaidi, the board includes prominent figures from UNICEF, Siemens Healthineers, and other esteemed organizations.
The Global Alliance for Women’s Health symbolizes a collective commitment to prioritizing, protecting, and promoting women’s health globally. The World Economic Forum Annual Meeting 2024, took place on 15-19 January in Davos-Klosters, Switzerland, under the theme “Rebuilding Trust.”
Unlocking a $1 Trillion Opportunity: Closing the Women’s Health Gap for a Healthier and Wealthier World
